Samsung Cheil Industries will acquire a 50.1 percent stake, while Samsung Electronics will own a 40 percent stake, Cheil said in a statement. Given that Samsung Ventures Investment Corporation already owns a 9.9 percent stake in Novaled, this means the German company will be wholly owned by the Korean firm.

Previously we reported that Samsung is close to buying Germany’s Novaled, a company specializing in organic light-emitting diode (OLED) technologies for lighting up smartphone and television screens, for more than $200 million, according to Bloomberg News.

Lee Tae-Hun, the senior PR manager of Samsung Cheil Industries, told TNW that the company is reviewing the possibility of buying Novaled, but there has been no final decision. He declined to elaborate further.

The report cites two people familiar with the transaction as saying that an agreement could be reached as soon as this week. Gerd Guenther, the chief marketing officer for Novaled, also reportedly said that negotiations are ongoing.

In May this year, Samsung invested $25 million to open its first US-based patent business, said to be focused on OLED and LCD patents. The Korean company’s reported move to acquire Novaled will therefore be another strategic move to gather more OLED technologies and patents under its belt.